A Corporation, Which Had 18,000 Shares of Common Stock Outstanding $\$ 240$

question 37

Essay

A corporation, which had 18,000 shares of common stock outstanding, declared a 3-for-1 stock split. (a) What will be the number of shares outstanding after the split?
(b) If the common stock had a market price of $\$ 240$ per share before the stock split, what would be an approximate market price per share after the split?
(c) Joumalize the entry to record the stock split.

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